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Aston Martin to cut up to 500 jobs to reduce costs

LONDON — British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come just days after Aston Martin's second-largest investor reduced its stake in the company, and a week after it confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. The 107-year old firm said the job losses reflected lower than originally planned production volumes and improved productivity across the business. An employee and trade union consultation process will be launched in the coming days. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. Last month it posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "The measures announced today will right-size the organizational structure and bring the cost base into line with reduced sports car production levels, consistent with restoring profitability," it said. It said its first sports utility vehicle (SUV), the DBX, which is key to boost volumes and appeal to new buyers including more women, remains on track for deliveries in the summer and has a strong order book. Aston Martin is also reducing costs and removing non-critical expenditure in other areas, including contractor numbers, site footprint, marketing and travel. It said the restructuring is expected to deliver total annual savings of about 38 million pounds ($47.6 million). Restructuring costs are expected to be about 12 million pounds. Shares in Aston Martin, down 78% over the last year, closed Wednesday at 68.9 pence, valuing the business at 1.05 billion pounds.  

Aston Martin bringing special Vantage, DB9 editions to Geneva

A European car show wouldn't be a European car show without the introduction of a new special-edition Aston Martin. And this year, Aston has two of them lined up to unveil at the Geneva Motor Show. First up we have the latest in a long line of N edition V8 Vantages. This one is called N430, and it will be available in both coupe and roadster bodystyles. It features the same 430-horsepower version of Aston's 4.7-liter V8 as the Vantage S (mated to either the six-speed manual or seven-speed sequential gearbox), and weight-saving measures like carbon-Kevlar seats and ten-spoke forged alloys help it hustle to 60 mph in 4.6 seconds en route to its 190 mph top speed. A new competition-derived aero package, retuned suspension, new steering ratios and a throatier exhaust aim to give the N430 a tighter, racier feel – as do the "club sports graphics packs" (that take their inspiration from GT racing versions of the Vantage) and dark-finish trim inside and out. Aston is also rolling out new Carbon Black and Carbon White editions of its DB9 that incorporate additional carbon-fiber trim to either complement or contrast with the exterior paint. Unfortunately, neither the V8 Vantage N430 or DB9 Carbon editions will be available in North America, so we'll just have to gaze at them from afar until we see them up close at the Swiss expo early next month. ASTON MARTIN UNVEILS TWO EXCLUSIVE NEW SPECIAL EDITIONS AT GENEVA - Striking V8 Vantage N430 builds on heritage of successful 'N' cars - Bold new styling options derive from N430's clear sporting pedigree - Debut of dramatic DB9 Carbon Black and Carbon White Aston Martin is unveiling two exclusive new special editions at the 84th Geneva International Motor Show. The great British sports car marque, now in its 101st year, is debuting a bold addition to its iconic V8 Vantage range as well as dramatic new special editions of the timeless DB9. Building on the appeal of the sports-focused Vantage range, and enhancing the enduring allure of Aston Martin's seminal GT, the DB9, the new models deliver eye-catching looks and classic elegance. V8 Vantage N430: race breeding, sports styling Pure, unadulterated fun is what lies at the heart of the new V8 Vantage N430. Honed on the track to excel on the road, N430 – available in Coupe or Roadster form – boasts a power hike to 436 PS at 7,300 rpm that brings its output up to that of the spirited V8 Vantage S.

TAG Heuer and Aston Martin drop special edition DBS Superleggera

Look the race-spec Aston Martin Vantage GT3 dead in the eyes, and there's a good chance that, at least for a subconscious second, the brain is going to redirect to watches. Watches and high-end cars are a long-standing natural fit. Craftsmanship, quality, precision, attention to detail, etc., make for an easy pairing, and prolific watch advertising in motorsport helps cement the connection. The most often result of such teams is a special-edition watch, but TAG Heuer and Aston Martin wanted to do more on the heels of their partnership announced in fall 2018. The deal is not solely for the track, however, as the two have announced the limited-run Aston Martin DBS Superleggera TAG Heuer Edition, which will come with a unique watch. The details are limited, but Aston Martin did drop a few photos of what the car will look like. As all examples are a fixed specification, every car will feature a Monaco Black paint job with carbon fiber aero pieces. Red accents, such as Pirelli color edition tires that match red brake calipers add a bit of flare. The guts match the skin, as red stitching, red piping, and red bits are seen throughout the black cabin. Triangular quilting is seen on the seats, the center armrest, and the door panels, and TAG Heuer logos embroidered into the seatbacks. Aston Martin did not release cost for the special-edition ride, but it will surely be pricey. Only 50 examples will be built. We also haven't seen what the watch itself will look like, but we've asked Aston Martin about it and will update this post when we hear more about it.